Klaviyo, Inc.

Listed Company

KVYOCIK 0001835830NYSELarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.23B

Net Income

$-31.77M

Total Assets

$1.58B

Equity

$1.20B

Shares Out

—

Op. Cash Flow

$218.01M

Business

Klaviyo, Inc. provides a cloud-native SaaS platform that captures, stores, analyzes and predictively uses first-party consumer data to enable businesses to deliver highly personalized marketing experiences. The company offers a marketing application with email, SMS and push messaging, a reviews add-on, a Customer Data Platform (CDP), AI/ML-powered predictive analytics, automation, segmentation, templates and extensive third-party integrations. Its operations are organized around a vertically integrated technology stack consisting of a centralized data layer, an application layer, and messaging infrastructure supported by R&D and partner programs. Klaviyo serves customers across the Americas, EMEA and APAC through a product-led self-service model, inbound channels, agency and platform partnerships, and dedicated sales teams.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	1,234	937	698	473	291
Cost of revenue	313	221	178	128	85
Gross profit	921	716	520	345	206
Selling and marketing	506	404	394	214	156
Research and development	291	238	262	104	66
General and administrative	192	158	194	82	63
Total operating expenses	989	800	851	400	285
Operating loss	−68	−84	−331	−55	−79
Other (expense) income	−2	816,000	−470,000	388,000	28,000
Interest income	39	40	24	6	139,000
Total other income	37	40	24	6	159,000
Loss before income taxes	−31	−44	−307	−49	−79
Provision for income taxes	1	2	1	83,000	319,000
Net loss	−32	−46	−308	−49	−79
Comprehensive loss	−32	−46	−308	−49	−79
Net loss per share attributable to Series A and Series B common stockholders, basic (in dollars per share)	−0.11	−0.17	−1.27	−0.21	−0.36
Net loss per share attributable to Series A and Series B common stockholders, diluted (in dollars per share)	−0.11	−0.17	−1.27	−0.21	−0.36
Weighted average common shares outstanding, basic (in shares)	291	266	243	230	221
Weighted average common shares outstanding, diluted (in shares)	291	266	243	230	221

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,100	881	739	386	—
Restricted cash	700,000	400,000	400,000	400,000	—
Accounts receivable, net of allowance for doubtful accounts	61	43	23	11	—
Deferred contract acquisition costs, current	30	21	15	11	—
Prepaid expenses and other current assets	50	34	26	19	—
Total current assets	1,206	980	803	428	—
Property and equipment, net	80	48	43	46	—
Right-of-use assets, net	101	43	37	46	—
Deferred contract acquisition costs, non-current	48	33	23	16	—
Restricted cash, non-current	0	700,000	700,000	700,000	—
Prepaid marketing expense	133	153	174	84	—
Other non-current assets	12	16	7	9	—
Total assets	1,581	1,273	1,089	629	—
Accounts payable	29	15	14	9	—
Accrued expenses	125	100	63	36	—
Lease liabilities, current	25	21	14	15	—
Deferred revenue	103	64	40	25	—
Total current liabilities	282	200	131	85	—
Lease liabilities, non-current	96	32	37	48	—
Other non-current liabilities	6	7	6	876,000	—
Total liabilities	384	239	174	133	—
Preferred stock: $0.001 par value; 100,000,000 and 100,000,000 shares authorized; 0 and 0 shares issued; 0 and 0 shares outstanding at December 31, 2025 and 2024, respectively.	0	0	0	0	—
Additional paid-in capital	2,073	1,879	1,714	1,249	—
Accumulated deficit	−877	−845	−799	−2,285	—
Total stockholders equity	1,197	1,034	915	−1,036	−2,236
Total liabilities and stockholders equity	1,581	1,273	1,089	629	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	19	18	14	9	5
Non-cash operating lease costs	25	13	13	12	9
Amortization of deferred contract acquisition costs	30	20	16	11	3
Amortization of prepaid marketing expense	53	53	53	22	0
Gain on derecognition of asset retirement obligation	−588,000	0	0	—	—
Loss on disposal of property and equipment	776,000	235,000	6,000	0	5,000
Bad debt expense	2	741,000	524,000	734,000	2
Stock-based compensation expense	162	135	341	7	35
Deferred income tax	−3	559,000	−3	0	0
Other	0	10,000	118,000	75,000	42,000
Accounts receivable	−20	−21	−13	−5	−5
Deferred contract acquisition costs	−54	−34	−27	−20	−11
Prepaid expenses, prepaid taxes, and other assets	−7	−17	−2	−5	−14
Accounts payable	12	113,000	5	−21	24
Accrued expenses	18	36	27	15	13
Deferred revenue	39	24	15	10	6
Operating lease liabilities	−24	−17	−15	−9	−10
Other non-current liabilities	−1	840,000	5	38,000	−954,000
Net cash provided by operating activities	218	166	119	−24	−23
Acquisition of property and equipment	−9	−6	−4	−16	−13
Capitalization of software development costs	−19	−11	−6	−2	−987,000
Acquisition of business	−2	0	0	−500,000	0
Net cash used in investing activities	−30	−17	−9	−19	−14
Proceeds from exercise of common stock options	2	10	4	2	6
Cash paid for finance leases	0	−19,000	−21,000	−21,000	−16,000
Proceeds from exercise of warrants	15,000	14,000	62,000	45,000	0
Proceeds from issuance of common stock, net of issuance costs	0	0	0	100	346
Proceeds from issuance of common stock in initial public offering, net of issuance costs	0	0	320	0	0
Employee taxes paid related to net share settlement of stock-based awards	−18	−24	−82	0	0
Proceeds from employee stock purchase plan	11	8	0	0	—
Net cash (used in) provided by financing activities	−4	−6	243	101	211
Net increase in cash, cash equivalents, and restricted cash	183	143	353	59	174
Cash paid for income taxes, net of refunds	7	5	283,000	204,000	—
Recognition of prepaid marketing asset	32	32	142	106	0
Vesting of restricted common stock	0	0	75,000	101,000	100,000
Accretion of common stock subject to redemption	0	0	−400	1,034	−1,543
Unpaid purchases of property and equipment	12	2	472,000	44,000	2
Reclassification of redeemable common stock to Series B common stock	0	0	1,932	0	0
Non-cash acquisition of property and equipment through tenant incentives	8	0	0	—	—
Capitalization of stock-based compensation expense related to internal-use software	4	4	1	0	2,000

Filings

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